In an economy with the number of unemployed growing and the number of jobs shrinking, one can only assume the market is becoming more and more competitive. What is it an employer is looking for today? Probably the same thing every consumer is looking for, a good deal. They will be looking for the best employee they can get for the best price. This means the most qualified, most experienced and HIGHEST EDUCATED individual willing to come to work for them for the least amount of money. That’s the bottom line in today’s current economical situation.
Employers have always looked for the best deal they could find in their employees, but in today’s environment they have the upper hand. The employment market is saturated with strong resumes that are filled with desirable qualities. The downside for the employer is that they are literally inundated with resumes daily for just a few position openings. This leaves them filtering resumes based on quality issues, one of which will be higher education.
According to the 2008 U.S. Census Bureau GCT 1502 “Percentage of People 25 years and over who have completed a Bachelor’s Degree”, the table revealed that approximately 27.4% fit in this category. In essence, if an employer is using education as a criterion, desiring a Bachelor’s Degree or higher, this would immediately omit 72.6% of the competition. Factor in experience, background and basic skills, the ability to remove that high of a percentage of one’s competition based on only one issue is certainly a very good reason to invest in its acquisition.
As to the cost effectiveness of a college education today, considering the economic climate, the cost effectiveness is even more appropriate than ever before based simply upon the competitiveness of the job market. As the cost of education continues to climb it does become more and more difficult to make the decision to take on this endeavor. Sacrifices no doubt will have to be made to do so. But again, the reality is, that the higher the achievement in education, the higher the potential in earnings and the more competitive one becomes in the job market.
Higher education has always been a bonus, a plus so to speak. It is a gift and even considered a luxury to much of the world today. It is not nor has it ever been considered a “given” to the majority of the population even in the United States of America. Even as legislation is past on Capital Hill in an effort to make higher education more attainable to everyone it is still a difficult decision to make. But as far as the reality of a college education still being cost effective; it is most likely as cost effective today as it was 50 years ago.